The Role of Accounting in Business and Why It’s Important

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions. A few reasons why accounting is important to businesses: It Helps in Evaluating the Performance of Business […]

Abstract:

Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.

A few reasons why accounting is important to businesses:

  • It Helps in Evaluating the Performance of Business
  • It Ensures Statutory Compliance
  • It Helps to Create Budget and Future Projections
  • It Helps in Filing Financial Statements
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Abstract:

Fiscal Year

Nepal’s fiscal year runs from 16th July (ongoing year) to 15th July (following year).

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